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Thu, Oct 08, 2020 – 8:57 am
THE following companies saw new developments that may affect their stock trading on Thursday:
OCBC: The participation rate in OCBC’s electoral dividend scheme comprised three-quarters or 75.2 percent of the shares, with nearly 67.5 million new common shares assigned and issued to shareholders, the bank said. OCBC shares closed unchanged at S $ 8.62 on Wednesday, prior to this announcement.
HC Surgery Specialists (HCSS), Medinex: The two companies listed on Catalist have separately proposed to each buy a 20 percent stake in a medical products retailer.
Meanwhile, HCSS said Wednesday night that its minority shareholder Serene Tiong had filed a subpoena to appeal the Superior Court’s decision in favor of surgeon Julian Ong’s defamation lawsuit against him.
HCSS shares closed unchanged at S $ 0.30 on Wednesday, while Medinex shares last traded at S $ 19.6 cents on Monday.
City Developments Limited (CDL): The developer has appointed insurance veteran Colin Ong as its independent non-executive director. Mr. Ong was most recently the Senior Executive Director of Great Eastern Financial Advisers and has 28 years of experience in the insurance industry. Shares of CDL closed at Singapore $ 7.80 on Wednesday, up Singapore $ 0.07 or 0.9 percent, ahead of the news.
Frasers Centrepoint Trust (FCT): More than half of FCT’s gross proceeds from its private placement have been used to temporarily reduce its revolving lines of credit, its manager said. FCT units closed at S $ 2.36 on Wednesday, down S $ 0.02 or 0.8%, ahead of the news.
Hong Leong Finance: Clients representing 20 percent of Hong Leong Finance’s loan portfolio have opted for deferred repayments amid the pandemic. The Business Times reported Thursday. But all of those loans except the government-assisted Enterprise Singapore loans are guaranteed. Hong Leong Finance shares closed at Singapore $ 2.30 on Wednesday, up Singapore $ 0.04 or 1.8 percent.
Raffles Medical Group: The motherboard-listed company has appointed Kenneth Wu and Chong Ee Rong as co-deputy managing directors of operations and commercial, respectively. Shares of Raffles Medical closed unchanged at S $ 0.80 on Wednesday after this announcement.
Fortress Minerals: The Catalist-listed company saw its net profit for the second quarter ended Aug. 31 double to nearly $ 5.7 million, from $ 2.5 million a year ago. This was due to higher iron ore sales volume, the company said. Shares of Fortress Minerals closed unchanged at S $ 0.20 on Wednesday, ahead of the announcement of the results.
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